Cooper Tire Settles Tread-Separation Suit
Reuters
Cooper Tire & Rubber Co. has settled a lawsuit over a 1998 accident that killed four people and seriously injured two others.
The settlement, reached late Thursday in Little Rock, Ark., came one day after a U.S. District Court judge sanctioned the tire maker for burning potentially damaging documents.
A trial of the tire separation case had been set to start Tuesday in Helena, Ark. The amount of the settlement, which also resolves the sanctions, was not disclosed.
Cooper, the second-largest U.S. tire maker behind Goodyear Tire & Rubber Co., said the sanctions had no bearing on its decision to settle the suit.
Cooper shares rose 28 cents to $23.40 in NYSE trading.
